GraniteShares Gold Trust (NYSEARCA:BAR) Sees Significant Growth in Short Interest

GraniteShares Gold Trust (NYSEARCA:BAR) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 394,100 shares, a growth of 185.0% from the September 30th total of 138,300 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 753,100 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 753,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.2% of the company’s shares are sold short.

Institutional Investors Weigh In On GraniteShares Gold Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new stake in GraniteShares Gold Trust during the third quarter worth about $222,000. FSA Investment Group LLC acquired a new stake in GraniteShares Gold Trust during the 3rd quarter valued at approximately $2,204,000. Wealth Enhancement Advisory Services LLC acquired a new stake in GraniteShares Gold Trust during the 3rd quarter valued at approximately $319,000. Capital Advisory Group Advisory Services LLC grew its stake in GraniteShares Gold Trust by 35.7% during the 3rd quarter. Capital Advisory Group Advisory Services LLC now owns 105,572 shares of the company’s stock valued at $4,018,000 after purchasing an additional 27,752 shares in the last quarter. Finally, DMC Group LLC grew its stake in GraniteShares Gold Trust by 37.1% during the 3rd quarter. DMC Group LLC now owns 16,233 shares of the company’s stock valued at $618,000 after purchasing an additional 4,393 shares in the last quarter.

GraniteShares Gold Trust Trading Down 0.5%

GraniteShares Gold Trust stock opened at $39.44 on Friday. The stock has a fifty day moving average price of $37.67 and a 200 day moving average price of $34.53. GraniteShares Gold Trust has a 52 week low of $25.24 and a 52 week high of $43.19.

About GraniteShares Gold Trust

The GraniteShares Gold Trust (BAR) is an exchange-traded fund that is based on the LBMA Gold Price index. The fund tracks the gold spot price, less trust expenses and liabilities, using physically held gold stored and secured in vaults in London. BAR was launched on Aug 31, 2017 and is managed by GraniteShares.